More than 100,000 companies in Romania operated imports last year, the
number having been higher by several thousand compared to 2019,
according to data from the National Institute of Statistics (INS).
Considering that there are about 750,000 companies on the local market,
it means that one in every 7-8 legal entities brought goods from abroad
into Romania. However, the large volume of imports is concentrated at
the top. The first 500 importers contribute 60% to the total, while the
top 100 account for more than a third.
The National Commission for Strategy and Prognosis (CNSP)’s spring
forecast significantly revised upwards the estimate regarding Romania’s
Gross Domestic Product for 2021. CNSP’s latest calculations thus
indicate a RON 1,142.9 billion level in nominal terms and + 5%, from
RON 1,116.8 billion and +4.3% in the winter version.
Erste Group Bank estimates that Romania will record 4.2% economic
growth this year and a 4.5% advance in 2022, but the speed and extent
of the vaccination process remain the most important factors for the
economic recovery of the region where the banking group operates.
According to a press release, Erste Group Bank maintains its positive
outlook for 2021 and points out that economic recovery in Central and
Eastern European depends on a high anti-Covid-19 vaccination rate.
The Alternative Banking Dispute Settlement Center (CSALB) has reported,
upon "Adevărul" daily’s request, that over 2,000 Romanians entered into
negotiations with banks and non-banking financial institutions (IFN)
and obtained over EUR 4.4 million total benefits in its first five
years of activity. According to CSALB, if the average value for each
case finalized with parties’ reconciliation was EUR 2,700 in 2019, the
value stood at EUR 3,700 in 2020. For 31% of the cases that ended with
reconciliation, the value of the benefits exceeded EUR 5,000 in 2020
(compared to 18% in 2019).
Banca Comercială Română (BCR) group, controlled by Erste Group, ended
the first quarter of the year with a net profit of RON 424.6 million
(EUR 87 million), slightly lower, by almost 1%, than in the similar
period of 2020, when the bank had reported a RON 428.3 million (EUR
89.3 million) gain. The evolution from 2021 comes amid the release of
lower credit risk provisions. Moreover, the bank’s operating
performance improved following the continuous and significant increase
Banca Transilvania Financial Group obtained a RON 656.33 million
consolidated net profit in Q1 of 2021, up by 116% against the similar
period of last year. The profit at bank level stood at RON 581.26
million. Subsidiaries and equity participations contributed about RON
75 million to BT Group’s profitability.
Ford has confirmed that it will invest USD 300 million to build a new
light commercial vehicle at its plant in Craiova in 2023, including a
fully electric version of this vehicle, which will make its debut in
2024. This will be Ford’s first fully electric volume vehicle built in
Romania. In February, Ford committed to making its entire range of
commercial vehicles in Europe ready for zero emissions, fully electric
or plug-in hybrid, by 2024.
The World Bank has approved a EUR 100 million loan that will be used to
renovate nearly 100 buildings belonging to 55 schools in Romania. The
project, implemented by the Ministry of Education, aims to
comprehensively address development challenges related to school
infrastructure, demonstrate the process and impact of investing in
safer and modern schools and to establish the institutional foundations
for efficient and strategic long-term investment.
Bricks manufacturer Cemacon, owned by Dedeman, estimates a RON 29.96
million net profit and a RON 166.77 million turnover for this year,
both indicators being 33% higher than last year, according to the 2021
budget approved by shareholders on 28 April. Moreover, the company
plans to make RON 33.38 million investments in 2021.
New taxes will be stipulated in electricity contracts concluded with
household consumers, according to a draft normative act amending the
energy law, in order to transpose a European Directive into the
national legislation. The draft law stipulates that suppliers can
charge end-clients commissions for electricity supply contracts’
termination under certain conditions.
The majority of EU countries should be technically ready for COVID-19
certificates by the first week of June ahead of their official launch
expected by the end of that month, an EU official told EURACTIV. The
green digital certificates were proposed last month by the European
Commission as a way to facilitate safe free movement inside the EU
during the COVID-19 pandemic.
Education Minister Sorin Cîmpeanu has announced that all kindergarten
and primary education children, including those from preparatory
grades, but also secondary school and high school students, except for
those in the 8th and 12th grades, will physically attend classes in the
localities where the Covid-19 infection rate is below 1.00 per 1,000
inhabitants, starting from Wednesday. Students from the 5th, 6th, 7th,
9th, 10th and 11th grades in over 1,400 localities where the infection
rate exceeds 1.00 per 1,000 will resume online classes.
About 45% of employees in the Romanian healthcare system got vaccinated
against Covid-19, a level similar to the average in Europe, while 44%
of non-vaccinated employees are still hesitant. The latter are the
potential target of a campaign aimed at convincing them to get
immunized. The data have been taken over from the study "Impact of
anti-SARS-CoV-2/COVID-19 vaccination on healthcare employees. Possible
optimization solutions", launched by "Solidaritatea Sanitară"
Federation in Romania.